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What is the gain or loss on this retirement

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Question - A company has bonds outstanding with a par value of $100,000. The unamortized discount on these bonds is $4,500. The company retired these bonds by buying them on the open market at 97. What is the gain or loss on this retirement?

1. $0 gain or loss

2. $1,500 gain

3. $1,500 loss

4. $3,000 gain

Reference no: EM131763268

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